{"data":{"id":"us-ok/okla.-stat.-tit.-14a-14a-1-106","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 14A, § 14A-1-106","heading":"Change in dollar amount used in certain sections","body":"(1) From time to time the dollar amounts in paragraphs (a), (b)\n\nand (c) of subsection (2) of Section 2-201, paragraph (a) of\n\nsubsection (1) of Section 2-203, subsection (1) of Section 2-407,\n\nSection 2-413, paragraph (b) of subsection (1) of Section 3-203,\n\nSection 3-203.1, subsection (4) of Section 3-508A, subsection (1) of\n\nSection 3-510, paragraphs (a) and (b) of Section 3-511, Section 3-\n\n514, and subsections (2) and (3) of Section 5-103 of the Uniform\n\nConsumer Credit Code, are hereby designated as subject to change and\n\nshall change, as provided in this section and the rules of the\n\nAdministrator, according to and to the extent of changes in the\n\nConsumer Price Index for Urban Wage Earners and Clerical Workers:\n\nU.S. City Average, All Items, 1967=100, compiled by the Bureau of\n\nLabor Statistics, United States Department of Labor, and hereafter\n\nreferred to as the Index. The Index for December of the year 1973\n\nshall be deemed the Reference Base Index. The dollar amounts\n\nestablished by rule of the Administrator in paragraph (e) of\n\nsubsection (1) of Section 2-104, paragraph (b) of subsection (1) of\n\nSection 2-106 and paragraph (d) of Section 3-104 of the Uniform\n\nConsumer Credit Code in effect on January 1, 1982, shall remain in\n\nfull force and effect.\n\n(2) From time to time, the dollar amounts in subsection (1) of\n\nSection 3-508B of the Uniform Consumer Credit Code are hereby\n\ndesignated as subject to change and shall change, as provided in\n\nthis section and the rules of the Administrator, according to and to\n\nthe extent of changes in the Consumer Price Index for Urban Wage\n\nEarners and Clerical Workers: U.S. City Average, All Items, 1982-\n\n84=100, compiled by the Bureau of Labor Statistics, United States\n\nDepartment of Labor, and hereafter referred to as the Index. The\n\nIndex for December 2020 shall be deemed the Reference Base Index.\n\n(3) The designated dollar amounts referenced in subsection (1)\n\nof this section shall change on July 1 of each year if the\n\npercentage of change, calculated to the nearest whole percentage\n\npoint, between the Index at the end of the preceding year and the\n\nReference Base Index is ten percent (10%) or more, but:\n\n(a) the portion of the percentage change in the Index in\n\nexcess of a multiple of ten percent (10%) shall be\n\ndisregarded and the dollar amounts shall change only\n\nin multiples of ten percent (10%) of the amounts\n\nappearing in the Uniform Consumer Credit Code; and\n\n(b) the dollar amounts shall not change if the amounts\n\nrequired by this section are those currently in effect\n\npursuant to the Uniform Consumer Credit Code as a\n\nresult of earlier application of this section.\n\n(4) The designated dollar amounts referenced in subsection (2)\n\nof this section shall change on July 1 of each year if the\n\npercentage of change, calculated to the nearest whole percentage\n\npoint, between the Index at the end of the preceding year and the\n\nReference Base Index is one percent (1%) or more, but:\n\n(a) the portion of the percentage change shall change only\n\nin multiples of one percent (1%); and\nsignated dollar amounts referenced in subsection (2)\n\nof this section shall change on July 1 of each year if the\n\npercentage of change, calculated to the nearest whole percentage\n\npoint, between the Index at the end of the preceding year and the\n\nReference Base Index is one percent (1%) or more, but:\n\n(a) the portion of the percentage change shall change only\n\nin multiples of one percent (1%); and\n\n(b) the dollar amounts shall not change if the amounts\n\nrequired by this section are those currently in effect\n\npursuant to the Uniform Consumer Credit Code as a\n\nresult of earlier application of this section.\n\n(5) If the Index is revised, the percentage of change pursuant\n\nto this section shall be calculated on the basis of the revised\n\nIndex. If a revision of the Index changes the Reference Base Index,\n\na revised Reference Base Index shall be determined by multiplying\n\nthe Reference Base Index then applicable by the rebasing factor\n\nfurnished by the United States Bureau of Labor Statistics. If the\n\nIndex is superseded, the Index referred to in this section shall be\n\nthe one represented by the United States Bureau of Labor Statistics\n\nas reflecting most accurately changes in the purchasing power of the\n\ndollar for consumers.\n\n(6) The rules of the Administrator shall provide for\n\nappropriate notice to licensees and other interested persons of any\n\nchanges in the dollar amounts which result from changes required by\n\nthis section no later than April 30 of each year. Each dollar\n\namount subject to change as provided in this section shall be listed\n\nin an appendix to the rules of the Administrator and shall be\n\npublished in the Oklahoma Administrative Code. Changes to the\n\nappendix shall be submitted to the Secretary of State prior to the\n\nannual deadline for submitting material for publication in the Code.\n\nChanges in the appendix shall not be construed as rulemaking.\n\n(7) A person does not violate the Uniform Consumer Credit Code\n\nwith respect to a transaction otherwise complying with the Uniform\n\nConsumer Credit Code if he or she relies on dollar amounts either\n\ndetermined according to this section or appearing in the last rule\n\nof the Administrator announcing the then current dollar amounts.","path":["OK Code","Title 14A"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os14A.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"f137f6166f3a4feaca31bb4c2cdb199aea89a4fe2f7a38a8fdac3710bc8dd7ab","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-14a-14a-1-104","next":"us-ok/okla.-stat.-tit.-14a-14a-1-107"},"notice":"GroundRules: Original legal text. Not legal advice."}